DuPont Reports Third Quarter 2026 Results
DuPont de Nemours, Inc. (DD) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 DuPont Reports Third Quarter 2026 Results Exceeds Third Quarter 2026 Guidance Raises Full Year 2026 Guidance Third Quarter 2026 Highlights • Net Sales of $1.9 billion increased 4%; organic sales increased 5% versus year-ago period • GAAP Income from continuing operat
How this was made
The 30-second read
Why it matters
The raised guidance may attract buying interest, especially from investors seeking exposure to industrial growth.
Market read
The earnings beat and raised guidance are material for the stock and its sector, offering a clear trading catalyst.
What to watch
Potential headwinds from currency impact and ongoing separation costs could temper growth.
DuPont Reports Third Quarter 2026 Results Exceeds Third Quarter 2026 Guidance Raises Full Year 2026 Guidance
Third-quarter net sales increased 4%, organic sales increased 5%, operating EBITDA increased 8%, GAAP EPS from continuing operations increased 77%, and adjusted EPS increased 62%. The Company raised full-year 2026 guidance and reported transaction-adjusted free cash flow conversion of 121%.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net sales, Three Months Ended September 30, 2026GAAP | $1.87B | – | 4% |
| Organic sales, Three Months Ended September 30, 2026non-GAAP | 5% | – | 5% |
| Cost of sales, Three Months Ended September 30, 2026GAAP | $1.20B | – | – |
| Research and development expenses, Three Months Ended September 30, 2026GAAP | $ 42 | – | – |
| Selling, general and administrative expenses, Three Months Ended September 30, 2026GAAP | $260M | – | – |
| Amortization of intangibles, Three Months Ended September 30, 2026GAAP | $ 68 | – | – |
| Restructuring and asset related charges - net, Three Months Ended September 30, 2026GAAP | $ 6 | – | – |
| Acquisition, integration and separation costs, Three Months Ended September 30, 2026GAAP | $ 15 | – | – |
| Income from continuing operations before income taxes, Three Months Ended September 30, 2026GAAP | $279M | – | – |
| Income from continuing operations, net of tax, Three Months Ended September 30, 2026GAAP | $171M | – | 68% |
| Net income, Three Months Ended September 30, 2026GAAP | $126M | – | – |
| Net income available for DuPont common stockholders, Three Months Ended September 30, 2026GAAP | $123M | – | – |
| Earnings per common share from continuing operations - diluted, Three Months Ended September 30, 2026GAAP | $ 1.24 | – | 77% |
| Earnings per common share - diluted, Three Months Ended September 30, 2026GAAP | $ 0.91 | – | – |
| Operating EBITDA, Three Months Ended September 30, 2026non-GAAP | $469M | – | 8% |
| Operating EBITDA margin, Three Months Ended September 30, 2026non-GAAP | 25.1 % | – | 80 bps |
| Adjusted earnings, Three Months Ended September 30, 2026non-GAAP | $282M | – | – |
| Adjusted EPS, Three Months Ended September 30, 2026non-GAAP | $2.09 | – | 62% |
| Cash provided by operating activities - continuing operations, Three Months Ended September 30, 2026GAAP | $410M | – | 27% |
| Capital expenditures, Three Months Ended September 30, 2026other | $71 | – | – |
| Adjusted free cash flow, Three Months Ended September 30, 2026non-GAAP | $339M | – | – |
| Transaction-adjusted free cash flow, Three Months Ended September 30, 2026non-GAAP | $341M | – | (1%) |
| Transaction-adjusted free cash flow conversion, Three Months Ended September 30, 2026non-GAAP | 121 % | – | – |
| Net sales, Nine Months Ended September 30, 2026GAAP | $5.37B | – | – |
| Income from continuing operations, net of tax, Nine Months Ended September 30, 2026GAAP | $512M | – | – |
| Net income, Nine Months Ended September 30, 2026GAAP | $437M | – | – |
| Earnings per common share from continuing operations - diluted, Nine Months Ended September 30, 2026GAAP | $ 3.68 | – | – |
| Operating EBITDA, Nine Months Ended September 30, 2026non-GAAP | $1.33B | – | – |
| Adjusted EPS, Nine Months Ended September 30, 2026non-GAAP | $ 5.61 | – | – |
| Cash provided by operating activities - continuing operations, Nine Months Ended September 30, 2026GAAP | $1.04B | – | – |
| Transaction-adjusted free cash flow, Nine Months Ended September 30, 2026non-GAAP | $814M | – | – |
| Transaction-adjusted free cash flow conversion, Nine Months Ended September 30, 2026non-GAAP | 106 % | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Healthcare & Water TechnologiesHealthcare Technologies sales up mid-single digits on an organic basis led by growth in personal protection and medical packaging. Water Technologies sales up low-single digits on an organic basis on strength in industrial water, semiconductor and specialty markets, partially offset by continued disruptions in the Middle East. | $865M | – | 4% |
| Diversified IndustrialsBuilding Technologies sales up mid-single digits on an organic basis due to growth in North America and Asia. Industrial Technologies sales up mid-single digits on an organic basis on continued strength in aerospace and electric vehicle battery applications. | $1.00B | – | 4% |
Amounts quoted below without a unit are in millions, as in the filing’s tables. Per-share figures are as printed.
4Q'26E and Full Year 2026E outlook
- Revenue4Q'26E: ~$1,825; Full Year 2026E: ~$7,190
- NoteOperating EBITDA (non-GAAP): 4Q'26E: ~$455; Full Year 2026E: ~$1,785
- NoteAdjusted EPS (non-GAAP): 4Q'26E: $1.90 - $1.95; Full Year 2026E: $7.47 - $7.52
- NoteFull Year 2026E organic growth: about 4.5%
Capital returns
- Completed $250 million accelerated share purchase in the third quarter.
- Substantially completed $100 million of open market share repurchases in the third quarter.
- Announces intent to repurchase $250 million of shares in the fourth quarter.
- Purchases of common stock and forward contracts, Nine Months Ended September 30, 2026: $ (611).
- Dividends paid to stockholders, Nine Months Ended September 30, 2026: $ (243).
What drove it
- Consolidated net sales were up 4% on a 5% increase in organic sales partially offset by a 1% headwind from currency.
- Operating EBITDA increased on organic growth and productivity.
- GAAP Income/GAAP EPS from continuing operations improved on higher segment earnings and lower interest expense and transaction costs.
- Adjusted EPS increased on higher segment earnings and lower net interest expense, tax rate, and share count.
- Healthcare, aerospace and industrial water end-markets showed continued strength.
- The Reverse Stock Split became effective on June 24, 2026, and all share and share-related information in the interim Consolidated Financial Statements was retroactively adjusted.
Concerns
- Water Technologies faced continued disruptions in the Middle East.
- Third quarter 2025 net sales included a benefit of $15 million, or 2%, from an order timing shift from the fourth quarter 2025 due to separation-related activities, primarily in Water Technologies.
- Third quarter 2025 net sales included a benefit of $15 million, or 2%, from an order timing shift from the fourth quarter 2025 due to separation-related activities, primarily in Industrial Technologies.
- Loss from discontinued operations, net of tax, was $ (45) in the third quarter of 2026.
- The filing identifies risks related to PFAS and related litigation, remediation and environmental obligations, as well as portfolio actions, trade measures, supply-chain disruption and the timing and amount of repurchases.
What to watch
- Execution against 4Q'26E net sales of ~$1,825, operating EBITDA of ~$455, and adjusted EPS of $1.90 - $1.95.
- Delivery of full-year organic growth of about 4.5%, operating EBITDA of about $1.785 billion, and adjusted EPS of $7.47 - $7.52 per share.
- Completion and timing of the intended $250 million fourth-quarter share repurchase.
- Performance in industrial water, aerospace, healthcare, construction and electric vehicle battery applications.
- The impact of continued disruptions in the Middle East on Water Technologies.
Balance sheet and cash flow
- Cash and cash equivalents as of September 30, 2026: $ 1,652; December 31, 2025: $ 715.
- Long-Term Debt as of September 30, 2026: $ 3,094; December 31, 2025: $ 3,134.
- Short-term borrowings as of September 30, 2026: $ —; December 31, 2025: $ 60.
- Cash provided by operating activities - continuing operations, Nine Months Ended September 30, 2026: $ 1,042; Nine Months Ended September 30, 2025: $ 473.
- Capital expenditures, Nine Months Ended September 30, 2026: $ (249); Nine Months Ended September 30, 2025: $ (246).
- Proceeds and adjustments to proceeds from sales of businesses, net of cash divested, Nine Months Ended September 30, 2026: 1,159.
- Cash used for financing activities - continuing operations, Nine Months Ended September 30, 2026: $ (842); Nine Months Ended September 30, 2025: $ (538).
Analysis
DuPont reported third-quarter net sales of $1,868 million, up 4% from $1,795 million, with 5% organic sales growth partly offset by a 1% currency headwind. Both segments contributed: Healthcare & Water Technologies recorded $865 million of sales, up 4%, while Diversified Industrials recorded $1,003 million, also up 4%. Management cited continued strength in healthcare, aerospace and industrial water, alongside growth in personal protection, medical packaging, construction, and electric vehicle battery applications.
Profitability improved across the reported operating measures. Operating EBITDA increased 8% to $469 million and operating EBITDA margin expanded 80 basis points to 25.1%. Healthcare & Water Technologies operating EBITDA rose to $263 million from $246 million, with margin increasing to 30.4% from 29.6%. Diversified Industrials operating EBITDA rose to $242 million from $219 million, and margin increased to 24.1% from 22.7%. DuPont attributed the consolidated EBITDA improvement to organic growth and productivity.
GAAP income from continuing operations was $171 million, up 68% from $102 million, while diluted GAAP EPS from continuing operations was $1.24, up 77% from $0.70. Adjusted EPS rose 62% to $2.09 from $1.29. The Company attributed adjusted EPS growth to higher segment earnings and lower net interest expense, tax rate, and share count. Results remain presented on a continuing-operations basis following the separation of the Electronics Business and the Aramids Divestiture, while the quarter included a $ (45) loss from discontinued operations, net of tax.
Cash generation was a central feature of the quarter. Cash provided by operating activities from continuing operations was $410 million, capital expenditures were $71 million, and transaction-adjusted free cash flow was $341 million. Transaction-adjusted free cash flow conversion was 121%, compared with 192% in the prior-year quarter. For the first nine months, cash provided by operating activities from continuing operations was $1,042 million and transaction-adjusted free cash flow was $814 million. Cash and cash equivalents were $1,652 million at September 30, 2026, while long-term debt was $3,094 million.
Capital allocation included completion of a $250 million accelerated share purchase and substantial completion of $100 million of open-market repurchases during the third quarter, plus an announced intent to repurchase $250 million of shares in the fourth quarter. DuPont raised its full-year outlook to net sales of ~$7,190, operating EBITDA of ~$1,785, adjusted EPS of $7.47 - $7.52, and organic growth of about 4.5%. The fourth-quarter outlook calls for net sales of ~$1,825, operating EBITDA of ~$455, and adjusted EPS of $1.90 - $1.95.
Management, verbatim
We delivered another quarter of consistent, high-quality performance, once again exceeding our financial guidance.
Lori Koch, DuPont Chief Executive Officer
Mid-single-digit organic growth, strong operating leverage and disciplined capital allocation drove significant adjusted EPS growth. Additionally, we delivered strong free cash flow performance, with 121% conversion, underscoring the quality of our earnings and effective execution.
Lori Koch, DuPont Chief Executive Officer
Our results once again exceeded our financial expectations, demonstrating the strength of our operating model and consistent execution across the businesses. We are again raising our full-year financial outlook and now expect organic growth to be about 4.5%, operating EBITDA to be about $1.785 billion and adjusted EPS to be in the range of $7.47 - $7.52 per share, all at or above the high end of our previously communicated guidance.
Antonella Franzen, DuPont Chief Financial Officer
Not in the filing
stated, not guessed- Gross margin was not reported.
- GAAP operating income was not reported as a line item.
- A quarterly dividend declaration or per-share dividend amount was not reported.
- A prior-quarter comparison was not reported for the reported quarterly metrics.
- Prior financial outlook figures were not provided, so actual results cannot be compared with prior guidance.
- Forward gross margin, operating expenses, and tax-rate guidance were not reported.
- Quarterly cash, debt, and net-debt comparisons with the prior-year quarter were not reported.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
DuPont's Q3 2026 earnings release via an SEC Form 8‑K provides the first public disclosure of its results and updated guidance.
Ticker impact
DuPont reported Q3 2026 results that exceeded guidance and raised full‑year 2026 guidance.
likely upward pressure as investors price in higher earnings expectations
The company posted higher sales, GAAP EPS and operating EBITDA, and explicitly raised its FY guidance, which typically supports the stock.
Market effects
Improved outlook for chemicals and materials sector may lift peers.
Positive for US industrial stocks.
Limited to investors tracking large-cap industrials.
Counterpoint
If the guidance raise is already priced in, the stock could face a short‑term pullback.
Key entities
- CompanyDuPont de Nemours, Inc.
Issuer of the earnings release.
